220,000 Shares in Sable Offshore Corp. (NYSE:SOC) Purchased by Harraden Circle Investments LLC

Harraden Circle Investments LLC acquired a new position in Sable Offshore Corp. (NYSE:SOC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 220,000 shares of the company's stock, valued at approximately $5,038,000. Sable Offshore accounts for approximately 4.6% of Harraden Circle Investments LLC's investment portfolio, making the stock its 9th biggest holding. Harraden Circle Investments LLC owned about 0.25% of Sable Offshore at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Sable Offshore by 9.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,248 shares of the company's stock worth $927,000 after purchasing an additional 3,531 shares in the last quarter. State Street Corp increased its holdings in shares of Sable Offshore by 74.3% in the third quarter. State Street Corp now owns 1,589,395 shares of the company's stock valued at $37,557,000 after buying an additional 677,426 shares in the last quarter. Barclays PLC lifted its position in shares of Sable Offshore by 342.9% during the 3rd quarter. Barclays PLC now owns 77,583 shares of the company's stock valued at $1,832,000 after acquiring an additional 60,065 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sable Offshore by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,051,177 shares of the company's stock worth $24,844,000 after acquiring an additional 26,934 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Sable Offshore in the 3rd quarter worth $521,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Sable Offshore Stock Up 0.7 %

Shares of NYSE:SOC traded up $0.13 during midday trading on Wednesday, reaching $18.83. 669,991 shares of the company's stock were exchanged, compared to its average volume of 1,100,756. The company's 50 day simple moving average is $24.10 and its two-hundred day simple moving average is $23.20. Sable Offshore Corp. has a 12 month low of $10.26 and a 12 month high of $32.33. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

Insider Activity

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of the company's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $25.37, for a total transaction of $3,648,358.22. Following the sale, the insider now directly owns 10,100,569 shares of the company's stock, valued at approximately $256,251,435.53. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SOC. BWS Financial reiterated a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. Roth Capital set a $30.00 target price on shares of Sable Offshore in a research note on Thursday, March 27th. Benchmark restated a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, Roth Mkm began coverage on Sable Offshore in a research report on Thursday, March 27th. They issued a "buy" rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.50.

Sable Offshore Company Profile

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. The company operates through three platforms located in federal waters offshore California. It owns and operates 16 federal leases across approximately 76,000 acres and subsea pipelines, which transport crude oil, natural gas, and produced water from the platforms to the onshore processing facilities.